Home / Market Beat / US Fed tapering brings down Indian markets. Nifty down by 60 points

US Fed tapering brings down Indian markets. Nifty down by 60 points


Markets have seen sharp declines as the United states announced its tapering move yesterday. The much anticipated move from the US Fed was announced yesterday by the US Fed chairman Ben Bernanke, indicating that the Central bank would start withdrawing the buy back of the bond buying by $10 billion a month.

The US markets had reacted positively on the news flow. Both the Dow Jones and the S&P 500 indices had closed over 1.6% higher in the trade on Wednesday.

However the Indian markets have shown negative bias towards the news flow. The Nifty and Sensex have moved down significantly in today’s trade. The Nifty is down by 51 points at 6165, while the Sensex has gone down by 162 points.

Banking stocks have been the top losers. Kotak Bank is the top loser with 2.6% losses. PNB is down by 2.4%. ICICI Bank is down by 1.9%.

Infrastructure major LT is down by over 2%. Hero Motors is also down by 2%.

SBI, Axis Bank, Indusind Bank – have all lost over 1.6%.

Market major Reliance Industries is down by 1.4%.


 

 

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